GACC: China's stainless scrap imports jump 38% MoM in April

China's stainless steel scrap imports jumped 37.6% month on month to 19,431 tonnes in April, which was also higher by 60.2% from April last year, according to new data from the General Administration of Customs (GACC).

During last month, the average import price rose 3.2% from March to around $1,275/tonne, according to Mysteel's calculation based on the Customs data. Market sources mainly attributed the sharp increase in imports to stronger demand for stainless scrap feed from domestic stainless mills. As nickel pig iron (NPI) prices rose last